Analysts Set Chime Financial, Inc. (NASDAQ:CHYM) Price Target at $31.65

Chime Financial, Inc. (NASDAQ:CHYM) has been assigned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and four have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.65.

Several research firms recently commented on CHYM. KeyCorp began coverage on Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. BMO Capital Markets initiated coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price target for the company. Finally, Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their price target for the company from $33.00 to $27.00 in a research report on Monday, April 13th.

Chime Financial Stock Performance

NASDAQ CHYM opened at $18.60 on Monday. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The stock has a 50-day moving average of $19.71 and a 200 day moving average of $22.00. The company has a market capitalization of $7.09 billion and a price-to-earnings ratio of -2.50.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million during the quarter. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts predict that Chime Financial will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chime Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. purchased a new stake in shares of Chime Financial during the 1st quarter valued at about $798,000. NewEdge Advisors LLC increased its position in shares of Chime Financial by 61.8% during the 1st quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock valued at $539,000 after purchasing an additional 10,997 shares during the last quarter. Bank of America Corp DE increased its position in shares of Chime Financial by 115.0% during the 1st quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock valued at $5,986,000 after purchasing an additional 170,941 shares during the last quarter. Atreides Management LP increased its position in shares of Chime Financial by 7.9% during the 1st quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock valued at $30,394,000 after purchasing an additional 118,946 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new position in shares of Chime Financial during the 1st quarter valued at approximately $24,296,000.

Chime Financial Company Profile

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.